ITR filing

Hello there,

As an individual, income tax filing is mandatory for every assessment year if your net total income exceeds the basic exemption limit as per the following cases:

1. If you are less than 60 years- Rs.2,50,000/-
2. If you are RESIDENT individual (senior citizen) of 60 years or above but less than 80 years- Rs.3,00,000/-
3. If you are RESIDENT individual (super senior citizen) of 80 years or above - Rs.5,00,000/-

These amounts are as per the tax slabs for AY 2019-2020. You cannot file your income tax returns for your previous years due to new regulations. However, I advise you to promptly file your returns so at the very least you can claim as refund your income which was deducted as TDS, in case no tax is payable and also help prevent notices and paying penalties for late filing. All the best with your family and your finances!